JIC and PAI Partners in final negotiations for SGD Pharma deal
European private equity firm PAI Partners (PAI) is in final negotiations for the acquisition of SGD Pharma, a leading global manufacturer of primary glass packaging for the pharmaceutical industry, by China Jianyin Investment Ltd (JIC).
Headquartered in France, SGD Pharma employs 3,200 people worldwide, with a network of five industry-reference plants located in France, Germany, China, and India. It supplies Type I, II and III, moulded and tubular, amber and flint glass packaging to a wide range of customers including international pharma laboratories, generics manufacturers, CDMOs, biotechs, and wholesalers. SGD Pharma is known in its industry for the quality of its products, its reliability and service levels, and its unique innovation capabilities.
Under JIC ownership, the Company has continuously invested in its industrial footprint and further accelerated its innovation efforts, strengthening its leadership and developing strong positions in attractive higher growth, as well as value, segments and geographies.
Christophe Nicoli, Chief Executive Officer of SGD Pharma, says: “By investing in cutting-edge manufacturing technologies, in taking the lead on sustainability and through constantly improving the service level it offers to its clients, the SGD Pharma teams have built a solid platform for performance and growth under JIC’s ownership. We are now thrilled to contemplate the next stage of SGD Pharma’s development with PAI - an experienced and supportive partner”.
Laurent Rivoire, a Managing Partner at PAI Partners, comments: “We look forward to finalising the acquisition of SGD Pharma from JIC. We have closely followed the development of SGD Pharma over the years and have been impressed by the progress made under the leadership of a talented management team. From this solid base, our ambition is to accelerate SGD Pharma’s growth trajectory through organic and external initiatives, mobilising PAI’s resources and expertise in the packaging and healthcare industries”.
The contemplated transaction will be submitted to the relevant employee representative bodies of SGD Pharma and be subject to the finalisation of the process required by the Ministry of Finance of China. The completion of the contemplated transaction would be subject to antitrust approvals.
PAI Partners is advised by Citi and Rothschild on M&A, Willkie Farr Gallagher on Legal, 8Advisory on Finance and Tax, Bain & Company on Commercial, and KPMG on Environment.
JIC is advised by BofA Securities on M&A, Bredin Prat on Legal, PwC on Finance and Tax, Roland Berger on Commercial and ERM on Environment.